Foreclosure on Olson property on hold

A judge has given Patty Olson her request of time.

Olson, whose commercial property in the Bijou area of South Lake Tahoe is tied up in court, was granted an extension to the stay. This means while her appeal to the bankruptcy court’s decision is ongoing the foreclosure process on the real estate is on hold.

The stay has been extended to Oct. 30 or until the appeal is decided, whichever comes first. There will be a status conference in October to assess where the case is.

The court, though, mandated Olson start paying US Bank $1,500 a month. Olson owes $640,696.16, plus interest. Interest accrues at $155.72 per day and totaled $79,488.22 as of June 30.

This strip mall is where Tahoe Wellness Cooperative operates. The medicinal pot shop is tied up in the bankruptcy case, but has a separate but related dispute going on with the city of South Lake Tahoe. A hearing on that case is set for later this month.

— Lake Tahoe News staff report